Shares in Japanese automaker Mitsubishi Motors plunged nearly nine percent Friday after a report said it might not join a planned merger between industry giants Honda and Nissan. Honda and its struggling rival Nissan agreed last month to launch talks on the tie-up,

Sources revealed on Friday that Mitsubishi Motors, a junior partner of Nissan and Honda, is considering not joining a planned merger between the two Japanese automakers. While Mitsubishi will maintain its cooperative ties with both companies, it plans to remain independent and listed, according to insiders who spoke on condition of anonymity.

As Honda and Nissan negotiate the terms of a possible merger, we take a speculative look at what new vehicles could spawn from the unprecedented collaboration.

Despite an initial MoU involving Mitsubishi in talks of "participation, involvement, and synergy sharing" in the Honda-Nissan merger, it now appears the company wants to go solo. The report indicates Mitsubishi had considered joining the new holding company with Honda and Nissan but has now opted out.